From left: Acting Head of Service, Lagos State, Folasade Adesoye, Commissioner, Inspectorate; PenCom, Professor Mohammed Kaoje; Chairman Premium Pension Limited, Aliyu Dikko and Managing Director Wilson Ideva at the commissioning of the firm’s Lagos Island Regional Office. From left: Commissioner, Inspectorate; PenCom, Professor Mohammed Kaoje; Director-General, Lagos State Pension Commission, […]
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PenCom requests N133.02bn for FG retirees in 2017
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has requested for the appropriation of N113,023,255,000.00 for Federal Government retirees in 2017, as against the sum of N50,195,808,918.00 submitted by Federal Government in the 2017 appropriation bill, thereby resulting in a shortfall of N62,827,446,082.00. PenCom made […]
MEMORANDUM SUBMITTED BY THE NATIONAL PENSION COMMISSION TO THE SENATE COMMITTEE ON ESTABLISHMENT AND PUBLIC SERVICE AT THE BUDGET DEFENCE SESSION ON THE 2017 BUDGET ESTIMATES FOR APPROPRIATION
MEMORANDUM SUBMITTED BY THE NATIONAL PENSION COMMISSION TO THE SENATE COMMITTEE ON ESTABLISHMENT AND PUBLIC SERVICE AT THE BUDGET DEFENCE SESSION ON THE 2017 BUDGET ESTIMATES FOR APPROPRIATION 14 FEBRUARY, 2017 1.0 Introduction 1.1 The National Pension Commission (“the Commission” or “PenCom”) would like to express its profound appreciation to […]
China’s First Mutual Insurer Opens
By Yang Qiaoling and Han Wei (Beijing) — China’s first mutual insurer has opened in Beijing, representing a step toward the country’s goal of diversifying its insurance industry. Zhonghui Property Mutual Insurance, with initial working capital of 1 billion yuan ($146 million) from 12 founding members, will offer credit insurance […]
Nigeria needs N204bn to settle pension backlog
The League of Federal Service Contributory Pension Retirees says the Federal Government will need N204 billion to clear the backlog of arrears owed its members. Got something awesome to share with the world? Click here to share The Coordinator, Mr. Chike Ogbechie, who decried the non-payment of allowances and pensions […]
Guinea Insurance chairman decries non enforcement of compulsory insurances
Ugochukwu Leave a comment and share Chuks Udo Okonta The Chairman of Guinea Insurance Plc, Godson Ugochukwu, has called on the government to provide necessary regulatory mechanisms, conducive business environments and ensure full enforcement of compulsory insurances which would help drive the growth of the sector and also, contribute significantly […]
Annuity funds feud: Clue from PRA 2014 Section 116 (1)
Notwithstanding the provisions of any other law, no pension funds or assets kept with a Pension Fund Custodian under this Bill shall be used to meet the claims of any of the Pension Custodian’s creditors in the event of liquidation of the Pension Fund custodian and neither shall the pension […]
CAMCONIA eyes Online Media to deepen insurance
Bayagbon Leave a comment and share Chuks Udo Okonta The Corporate Affairs and Communications Managers of Insurance companies (CAMCONIA) under the auspices of the Nigerian Insurance Association (NIA), has engaged the immediate past Editor of Vanguard Newspaper, Mideno Bayagbon, to deliver a paper at its February monthly meeting. A statement […]
Why RBS road map was not issued in January – NAICOM
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) says it could not issue the final road map for the Industry’s transition to Risk Based Supervision (RBS) by end of January because it is still considering the inputs from insurers. NAICOM in its regulatory priorities for […]
Nigerian Pension Funds Outperform Bench Mark Index but not inflation
Nigerian pension funds once again recorded another year of brilliant performance in 2016 roundly beating the NSE Pension Index by wide margins. The NSE Pension index ended the year 2016 at 810.04 points from its 2015 value of 815.16 points, thereby ending the year down by 5.13 points or -0.63%. […]
